ANZ Personal Loans
Flexible ANZ personal loans up to $75,000, competitive variable or fixed rates, rates from 7.49% p.a., and $300 cashback for loans over $15,000.
ANZ personal loans are a popular choice in Australia and offer flexibility whether you want fixed or variable rates. You can borrow from $5,000 up to $75,000 and choose a term from one to seven years, with rates starting at 7.49% p.a. Both fixed and variable rate options are available. A standout feature is the $300 cashback when you take out a new loan or increase your current loan to $15,000 or more. The loan is unsecured, so you won’t need to provide an asset as security.
How to Apply
Applying for an ANZ personal loan is straightforward:
- Decide on the fixed or variable rate loan.
- Estimate your personalised rate using their tools.
- Submit your application online, in branch, or by phone.
- If approved, confirm and accept your Letter of Offer.
- Funds are transferred to your nominated account, sometimes the same day if you apply at a branch before midday.
Pros
ANZ personal loans stand out for their flexibility in choosing between fixed and variable rates, with generous borrowing limits up to $75,000. There’s no requirement to secure the loan with property or a vehicle. The $300 cashback on eligible loans is a very attractive incentive for those borrowing $15,000 or more, helping to offset initial fees.
Cons
There are fees to be aware of, including a $150 approval fee and a $10 monthly administration charge. Also, if you opt for a fixed rate loan and choose to repay early, you may incur an early repayment cost. Finally, applicants with a lower credit score may not receive the lowest advertised rates.
Verdict
ANZ personal loans provide competitive rates, a solid cashback offer, and flexible options tailored to various personal needs. They are well-suited for borrowers who want a reputable lender and flexibility, but it pays to check all fees and your potential rate before applying.